I used it and really appreciated it as a n00b, losing that additional info (as unrealistic as it was) was quite a shock when I installed GWX.
Now that I've got the MFM, I had to grit my teeth and let the color-coding go. The whole point of having "neutral"-looking ships spawn from enemy rosters is to give you the responsibility of deciding which ships are truly neutral and which aren't... which gets completely negated if the Nav map is doing the work for you.
I'm keeping the navigational tails, though, for now. Baby steps!